21.07 - GOLD gained traction for the third straight session on Tuesday
- by George Solotarov
Gold prolonged its recent bullish trajectory and shot to fresh multi-year tops, around the $1824-25 region during the early European session on Tuesday. Given that the European Union leaders agreed on an unprecedented stimulus package worth €750 billion, prospects of more stimulus package from the US continued driving flows towards the non-yielding yellow metal.
This comes on the back of the overnight break through the $1812-14 resistance zone, which was seen as a fresh trigger for bulls and prompted some technical buying through the first half of the trading action on Tuesday.